UPDATE 2-Sky Deutschland marketing push fails to impress

* Q3 core loss of 87.9 mln eur vs Reuters poll avg 82 mln

* Cuts subscriber target to 2.8-3.0 mln from 3.0-3.4 mln

* Confirms outlook

* Shares drop as much as 11.3 pct, now down 5.8 pct

(Adds analyst comment, share price)

By Nicola Leske

FRANKFURT, Nov 12 (Reuters) - Slow subscriber growth hit shares in Sky Deutschland (SKYDn.DE) even as the German pay-TV broadcaster reiterated it aimed to be profitable by 2011 after a sweeping restructuring.

The company, in which Rupert Murdoch's News Corp (NWSA.O) owns almost 40 percent, rebranded itself from Premiere to Sky Deutschland in July and launched a huge marketing campaign to win more customers in Europe's largest TV market.

That drive as well as higher programme costs led to a higher-than-expected third-quarter net loss and did not attract as many new customers as analysts had hoped.